Permira to exit Hugo Boss

Mar 17, 2015

Hugo Boss has confirmed this week a 12 percent stake owned by investors, including private equity fund Permira, was being sold off, a placement that would increase the luxury fashion retailer’s free float to 91 percent of its share capital.

The luxury goods company said the process to sell a stake of 8.4 million Hugo Boss shares held by investment vehicle Red & Black had already commenced. Red & Black is majority controlled by private equity firm Permira.

Earlier on Monday, a source told Reuters that Permira was selling a Hugo Boss stake worth 1 billion euros ($1.06 billion) at price range of 112-118.6 euros per share. Hugo Boss also said seven percent of the company’s shares would be owned by entities belonging to Marzotto family.